Blockchain pro acquisition of Nasdaq-listed company Bit Digital's Mining business attracts follow

Recently, there have been reports in the market that a well-known figure in the blockchain field has acquired a Chinese fintech company that was once listed on NASDAQ. This company originally focused on P2P lending but has now transformed into a Bitcoin mining enterprise and rebranded as Bit Digital.

It is understood that this company began to venture into Bitcoin mining business in February of this year. As of June 30, the company has deployed 22,869 mining machines, with a total computing power of 1,250 PH/S, ranking first among NASDAQ-listed companies. In the first half of the year, the company obtained a total of 949.51 Bitcoins through its mining operations, with related revenue of approximately $690,000.

It is worth noting that the predecessor of this company went public on NASDAQ in March 2018 and was hailed as the "first Chinese auto loan stock." However, it later became the first publicly listed P2P platform in the U.S. to be investigated for allegedly illegally absorbing public deposits.

The new acquirer has extensive experience in the blockchain and cryptocurrency fields. He has issued a token and experimented with various business models, including public chains and mining coins. However, due to factors such as market volatility, previous projects have also faced challenges.

As the price of Bitcoin has continued to rise recently, cryptocurrency-related concept stocks have also attracted investors' favor. Data shows that Bit Digital's stock price had a cumulative increase of 1451.55% in 2020, rebounding significantly from the low point at the beginning of the year. This reflects the market's optimism towards Bitcoin Mining business and highlights the trend of integration between traditional finance and the emerging digital asset sector.

This acquisition case reveals a possible path for traditional financial companies to transition into the digital asset space. With the continuous development of the cryptocurrency market, it is expected that more similar business model innovations and cross-industry collaborations will emerge in the future.